Hikes in prices for utilities, gasoline and transportation as the government cuts subsidies to reduce its wide fiscal deficit have contributed to inflation's persistence

Consumer prices in Argentina rose 24.8% in 2017 after a sharp 3.1% increase in December, government data showed on Thursday, well above the central bank's target range for annual inflation of 12-17%t. The monthly reading, which was above median expectations in December of 2.5%.

The government in late December relaxed its 2018 inflation target to 15%, up from the central bank's previous 8-12% goal. The central bank cut interest rates earlier this week after relaxing the inflation target.

Hikes in prices for utilities, gasoline and transportation as the government cuts subsidies to reduce its wide fiscal deficit have contributed to inflation's persistence. In December, regulated prices surged 9.1% compared with the prior month, while core inflation - which excludes regulated and seasonal prices - was 1.7%.

In greater Buenos Aires, which had been used as a proxy for the country's inflation before the Indec statistics agency launched a nationwide index last year, consumer prices rose 3.4% in December, the biggest increase this year.

Inflation is the worst, most regressive form of taxation: must be reduced quickly. After one year, inflation must be lowered to one-digit levels. Eventually it must be located between zero and four per cent.

We will increase demand and supply, based on high affluence of investment currency that trust on the Macri government will create.

Two years later, inflation remains high and the promised rain of investments is still pending.

So in lieu of results, the government pressures (or blackmails) judges to, periodically, send some former government officials to jail to appear as if something is happening. Meanwhile, a ruling of the federal appeals court on Amado Boudou risks to make political witch hunt very apparent.